Attendo Ab · OMXSTO:ATT
Attendo Ab — Q3 2020 Earnings Presentation
13 slides from Attendo Ab's earnings presentation, Oct 23, 2020
Slide 1: Q3 2020 report presentation
Q3 2020 report presentation October 23, 2020 Q3 2020 Highlights, Martin Tivéus, CEO Financial Summary, Fredrik Lagercrantz, CFO Q&A
Slide 2: Highlights third quarter 2020: Positive development in Finland clouded by low demand in Scandinavia
Highlights third quarter 2020: Positive development in Finland clouded by low demand in Scandinavia • Continued organic growth and stable result in-spite of corona impact – Organic growth amounted to 3% driven by positive net sold beds in Finland – EBITA in line with last year (excluding capital gai
Slide 3: Group highlights in Q3
Group highlights in Q3 Net Sales, growth1 EBITA-margin* Leverage (adj ND/adj EBITDA)* 1% 9.0% 3.8x Q2/20: 4% Q3/19: 6% Q2/20: 4.9% Q3/19: 9.8% Q2/20: 3.3x Q3/19: 3.3x Quality Index Total Occupancy2 6.1% 85% 79% Adjusted EBITA, r12% Q2/20: 85% Q3/19: 81% Q2/20: 78% Q3/19: 80% Total # of beds in own O
Slide 4: Own operations: openings of new beds
Own operations: openings of new beds Very few openings in Q3. The R12-trend will further decline coming quarters No. of opened beds in own operation1) , by quarter and rolling 12 months 2,000 3,000 Openings R12 (right axis) 2,500 Openings by quarter Attendo Finland (left axis) 1,500 Openings by quar
Slide 5: Beds in operation and under construction
Beds in operation and under construction: No. of beds in operation declining slightly sequentially due to closed units No. of beds in operation1) 17,260 17,650 17,485 15,923 16,216 16,470 16,618 +6% 15,288 14,536 14,889 12,635 13,216 13,320 13,529 13,460 9,326 12,290 12,574 12,868 12,929 7,833 8,102
Slide 6: Mature units: margin and net sales development
Group reported Group ex Corona & RE* Mature units: margin and net sales development Mature** Margin deterioration flattening out in spite of continued corona-impact R12 adjusted EBITA margin development % 12 11.4% 11.3% 11.2% 11.1% 10.4% 10.3% 10.6% 10.7% 10.6% 10.6% 10.0% 10.1% 9.7% 10 11.1% 10.8%
Slide 7: Occupancy development: vintage breakdown
2016 and earlier Occupancy development: vintage breakdown 2017 2018 Fill-up of new homes leads to higher Group occupancy. Inflow in 2019 2020 Mikeva Sweden lower due to corona situation. Total occ. Occupancy in own homes1 100 95 90 90 88 85 85 85 82 82 81 81 80 80 80 79 79 79 80 78 75 70 65 60 55 50
Slide 8: P&L: Positive organic growth and slightly higher EBITA excluding capital gain in 2019
P&L: Positive organic growth and slightly higher EBITA excluding capital gain in 2019 SEKm Q3 2020 Q3 2019 Change (%) Net sales 2,983 3,013 -1 Organic, % 3.0 1.6 - Acquired, % -2.4 4.6 - Currency, % -1.6 1.3 - Operating profit (EBITA)* 269 294 -9 Operating margin (EBITA), % 9.0 9.8 - Amortization -3
Slide 9: Attendo Scandinavia Q3 2020
Attendo Scandinavia Q3 2020 FEAR OF CORONA DAMPENS DEMAND FOR NH BEDS Net sales per service offering, Q3 2020 Net sales Individual and family care • Sales negatively impacted by divestments of Norwegian Home care 5% Own care homes* operations 22% • Lower occupancy due to low inflow of new customers
Slide 10: Attendo Finland Q3 2020
Attendo Finland Q3 2020 POSITIVE EFFECT OF TURN-AROUND PROGRAM Net sales per service offering, Q3 2020 Net sales Other • Growth due to sales in new own homes as well as price Own care homes - 6% increases (Disabled care and social psychiatry) 22% Profits • Higher number of occupied beds due to good
Slide 11: Cash flow: Q3 is seasonally weak due to negative working capital
Cash flow: Q3 is seasonally weak due to negative working capital SEKm Q3 2020 Q3 2019 Operating profit (EBITA) 269 294 Change in working capital, paid tax, non cash items and depreciation 39 93 Cash flow after changes in working capital 308 387 Net investments in tangible and intangible assets -47 -
Slide 12: Attendo
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Slide 13: Attendo
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